MRF Tyres logo
The MRF Futures stock valuation on Monday breached the INR One-Lakh mark, due to the lower price of raw materials before settling at INR 98,320.80 on the National Stock Exchange.
MRF futures experienced a decline of 0.51 per cent from its previous closing price. The stock reached an all-time high of INR 99,933.50 during intraday trade in the cash market, but ultimately closed at INR 97,750 on the NSE, representing a drop of INR 864.05 or 0.88 per cent.
As of Monday, there were 12 stocks on the NSE with prices exceeding INR 10,000, with MRF being the costliest in India at INR 99,933.50, followed by Page Industries at INR 41,372.
According to the report, MRF’s Q4 showing was projected to be lower than expected at 11.9 per cent. Still, thanks to the reduction in raw material costs that helped boost MRF Futures’ EBITDA margin to 14.7 per cent. The recovery in the EBITDA margin is expected to continue in FY24 owing to softening raw material costs and operating leverage.
MRF has a market capitalization of INR 415 billion, with a total of 42,41,143 shares. Out of these, 30,60,312 shares, or 72.16 per cent, are owned by public shareholders, while promoters hold 11,80,831 shares or 27.84 per cent of the total equity.
